Indian markets traded higher with some gains seen in heavyweights - Infosys, Bharti Airtel and ONGC. IT and tech stocks led the advance.

At 2.12 p.m., the Sensex was trading up 84.59 points or 0.46% at 18,555.96 with 15 components gaining. Meanwhile, the Nifty was trading higher by 18.10 points or 0.32% at 5,649.10 with 23 components gaining.

On global front, European stocks were little changed as U.S. President Barack Obama prepared to hold talks with Republican lawmakers on how to resolve the country’s so-called fiscal cliff. U.S. futures fluctuated, while Asian shares rose.

The 30-share benchmark index, BSE Sensex opened with a gain of 20.12 points or 0.11% at 18,491.49, while the broad based NSE Nifty started with a fall of 6.20 points or 0.11%, at 5,624.80.

On the other hand, Cipla (1.16%), GAIL (India) (0.95%), Hindalco Industries (0.94%), Tata Motors (0.94%), ICICI Bank (0.92%), and Maruti Suzuki India (0.83%) were the major losers in the Sensex.

Mid & Small-cap Space

The Midcap and Smallcap index rose 0.52% and 0.20% respectively.

Sectors in Limelight

The TECk index was at 3,408.03, up by 63.68 points or by 1.90%. The major gainers were Bharti Airtel (3.95%), Idea Cellular (1.79%), Dish TV India (1.78%), Reliance MediaWorks (1.07%) and G T L (0.17%).

The IT index was at 5,748.67, up by 103.59 points or by 1.84%. The major gainers were Infosys (3.96%), Wipro (0.95%), Tata Consultancy Services (0.34%) and Tech Mahindra (0.28%).

The Metal index was at 9,991.30, up by 72.57 points or by 0.73%. The major gainers were Jindal Steel & Power (3.19%), Hindustan Zinc (2.77%), Coal India (1.48%), JSW Steel (1.44%) and NMDC (0.91%).

On the other hand, the Auto index was at 10,512.84, down by 45.53 points or by 0.43%. The major losers were Bharat Forge (1.9%), Cummins India (1.07%), Ashok Leyland (0.71%), Bajaj Auto (0.58%) and Hero Motocorp (0.51%).

Market Breadth

Market breadth was positive with 1,471 advances against 1,292 declines.

Value and Volume Toppers

United Spirits topped the value chart on the BSE with a turnover of Rs. 1,401.83 million. It was followed by Tata Coffee (Rs. 1,191.62 million), L&T Finance Holdings (Rs. 628.38 million) and State Bank Of India (Rs. 352.14 million).

The volume chart was led by Dhanus Technologies with trades of over 7.76 million shares. It was followed by L&T Finance Holdings (7.22 million), TV18 Broadcast (6.47 million) and Kingfisher Airlines (5.68 million).